USA-based cryptocurrency automated teller machine (ATM) provider Bitcoin Depot has unveiled its plans to go public through a merger with a special-purpose acquisition company (SPAC), as reported by Cointelegraph.
According to Cointelegraph, Atlanta-oriented Bitcoin Depot has reached an agreement to have a merger with SPAC GSR II Meteora (GSRM) in a reported deal worth $885 million to go public, as per a firm’s statement. Through this merger, Bitcoin Depot would become a publicly traded company as the combined company, to be called as Bitcoin Depot Inc, will trade on the Nasdaq under the new ticker symbol BTM. A unanimous approval has been given to the merger by the leadership team of Bitcoin Depot, and the board of directors of GSRM is expected to conclude by Q1, 2023. The business combination is expected to go through regulatory and stakeholder approvals, and other customary closing conditions. “With its BTM footprint, strategic relationships, and feature-rich mobile application,...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...